Former Incubate Fund Investor Misuzu Matsumoto Launches Oikaze Ventures with Focus on Early-Stage Bootstrapped Founders
The Japanese venture capital landscape has a new player aimed at the market's earliest stages. Oikaze Ventures, headquartered in Tokyo’s Minato Ward, announced the official launch of its operations and the establishment of its inaugural vehicle, Oikaze Ventures Fund I.
Helmed by General Partner Misuzu Matsumoto, the firm is hyper-focused on the pre-seed and seed stages. Living up to its name—Oikaze translates to "tailwind" in Japanese—the firm’s stated mission is to serve as the "first tailwind for entrepreneurs," providing rigorous, hands-on support while prioritizing founder vision during the critical early days of business creation.
Investment Strategy and Target Market
Oikaze Ventures Fund I is positioning itself as a proactive lead investor. The fund will write initial checks of up to 30 million JPY (approx. $200,000 USD).
The firm is targeting a highly specific demographic: Japanese-headquartered startups less than five years old that have not yet raised institutional capital. In a notable departure from traditional VC rigidity, Oikaze is actively welcoming pitches from founders in the pre-incorporation or ideation phases. While founder backgrounds are open, the firm noted a strategic preference for entrepreneurs who have prior experience working within the startup ecosystem.
Sector-wise, Oikaze is adopting an industry-agnostic approach, with the sole exception of deep tech. Demonstrating a pragmatic view of profitability, the fund is open not only to startups targeting aggressive "J-curve" hyper-growth but also to businesses aiming to scale upon a foundation of steady, reliable revenue streams.
Beyond capital injection, Oikaze promises heavy operational involvement. The firm plans to assist its portfolio companies with business development, recruiting, PR, marketing, and navigating subsequent Series A fundraising rounds.
First Portfolio Addition: Kohodo
The firm has already deployed capital from Fund I, announcing its first portfolio company: Kohodo. Led by CEO Tomoaki Shirogaki, Kohodo is a beverage startup manufacturing luxury ginger ale under the mission of "eliminating the toast gap."
Oikaze intends to build a concentrated portfolio, with plans to back over a dozen startups through this inaugural fund.
Leadership Background
General Partner Misuzu Matsumoto brings a diversified operator-to-investor background to the new firm. A Keio University graduate, Matsumoto's career includes tenure at e-commerce giant Rakuten and roles in PR, HR, and marketing at a SaaS startup. Before transitioning to venture capital, she cut her teeth as a founder, launching a media and CBD startup.
Matsumoto joined the prominent Japanese VC firm Incubate Fund in 2021, where she was involved in sourcing new investments and providing hands-on value-add support. She established Oikaze Ventures and assumed the role of General Partner, while also serving as a board member for the general incorporated association Tokyo Women in VC.
Norbert Gehrke
